Romgaz took out a 325 million euro credit from Raiffeisen Bank to partially finance the acquisition of ExxonMobil Romania, according to a release of the company, sent, on Wednesday, to the Bucharest Stock Exchange.Romgaz will use the loan to partially finance the acquisition price that will be paid for all the shares issued by ExxonMobil Exploration and Production Romania Limited (EMEPRL), which owns 50% of the rights and obligations regarding the Neptun Deep perimeter.The loan facility worth 325 million euro has a deadline of five years and is correlated with the general financial performance of Romgaz. The facility, in which Raiffeisen Bank acts as creditor, offers Romgaz the financing for its resource development plan, covering part of the acquisition price of all shares issued by EMEPRL."The signing of this financing contract is necessary to realize an important step assumed in the Romgaz strategy for development for the 2021-2030 period, namely the finalization of the acquisition of the EMEPRL shares, owner of 50% of the rights and obligations regarding the Neptun Deep perimeter. It is a first step that proves our determination to maintain Romgaz as the most important player in the gas market in Romania and will position us strategically in the current geopolitical context. The development and exploitation, as soon as possible, of the deposits with commercial potential in the Neptun Deep perimeter will ensure the adding of considerable volumes to the production of natural gas of Romania which will support, without a doubt, security in the natural gas supply of the country," said the general director of Romgaz, Aristotel Jude.The closing of the financing contract was facilitated by the legal support of law firms Dentons, representing Romgaz, and Wolf Theiss, acting for creditor Raiffeisen Bank.Presently, ExxonMobil and OMV Petrom are equal partners in the deep sea project Neptun Deep, where exploration has revealed gas deposits estimated at 42-84 billion cubic meters.
Soprano Angela Gheorghiu, one of the brightest stars of the international opera scene, is celebrating 35 years of excellence in music with a grand anniversary concert on September 7 at Arenele Romane in Bucharest. Tickets have been put up for sale online. The concert will feature an exceptional lineup of performers, including tenor Jonathan Tetelman, […]
Despite a climate of economic and political uncertainty, Romania's land market remained stable in 2024, with transaction volumes reaching nearly EUR 450 million, a figure close to 2023's total. Colliers' annual report reveals that Bucharest and its metropolitan area continued to dominate, accounting for 80% of total transactions, while residential projects made up 70% of […]
February has been an active month for Romania's fiscal and economic landscape, with significant announcements and regulatory updates that businesses, particularly those in public affairs and legal departments, should closely follow. IMF and World Bank: Stability, Not Austerity Finance Minister Tánczos Barna provided reassuring news following meetings with IMF and World Bank representatives. Contrary to […]
Rural buyers fuel growth through progressive adoption Over 60% of customers have more than 5 years of experience in online shopping Beauty, Fashion, Footwear, Pharma, and Electronics are the most popular categories €857 is the average annual spending of an online customer MerchantPro launches...
The 20th edition of the Bucharest Pride march is scheduled for June 7, organizer Accept announced. The march, where organizers expect some 30,000 participants, is part of a series of events taking place throughout June, including debates, exhibitions, film screenings, parties, and workshops. The march will follow its established route: Calea Victoriei – Parcul Izvor, […]
For the first time, the Randstad Romania Workmonitor research showed that Romanian employees now prioritize job security (88%) and work-life balance (86%) over salary (84%), slightly exceeding the global average. The 2025 report highlights a shifting workplace landscape where employees value personalization, community, and future-ready skills, and employers must adapt to meet these evolving expectations. […]
